To start, under your System roll out, check the box labeled “Don’t use local machine” then locate the output rollout window and go to Render output. Tick the box "Render to VRImage". Once selected choose an output location and save it as a .exr or .vrimage like we’ve shown below. If you choose the .exr option then render will be saved in Gamma 1.0 and will appear over bright and washed out. You will need to change your Gamma in Photoshop (Typically editing the exposure to .4242 in the Gamma will correct it). Next choose either “No memory” or "Preview" from the drop-down menu on the right. If you choose "No memory" the render will start, but you won’t see anything but the Render Progress Window until the rendering is completed. If you choose "Preview" you will see a preview window of the rendering.
V-Ray will write the data to the location you've chosen on your hard-drive. To review and the image once the render has completed, open the file location via the VRay Frame Buffer. Click the file folder location and open the .vrimage:
The image file will open to the V-Ray Frame Buffer and can be saved out in any format along with all channels rendered using the save all channels icon.